How to Determine Your Non-Negotiables When Buying a Luxury Property

How to Determine Your Non-Negotiables When Buying a Luxury Property

  • Joe & Cara Keenan
  • 03/29/23

Are you considering buying a first home or a vacation property in Westlake, Texas? Are you feeling overwhelmed at the prospect of searching for a new home that aligns with your requirements? Fortunately, this home-buying guide can help! Read on to find out how you can determine your non-negotiables when buying a luxury property!

1. Location, location, location

Location is everything. Because it is the one thing that cannot be changed, you need to consider your location. Many homes for sale in Westlake, Texas, are spacious with expansive lots. Some homes are on the lakefront, while others are close to parks and other recreational options. For example, consider the exclusive and picturesque gated 100-acre community, Glenwyck Farms, which offers many one-acre home sites, walking trails, ponds, and trees. Life in Glenwyck Farms is quiet, serene, and beautiful.
If you still want that slow-paced lifestyle with more community and sporting events, then you might like the prestigious Vaquero Club, which boasts a golf course by world-renowned Tom Fazio, a golf club with plenty of amenities, and proximity to great shops and dining options in the nearby cities. With many different communities in Westlake, Texas, there is one that fits your lifestyle. By knowing where you want to buy a luxury property in Westlake, you can make your home search much more efficient!

2. Size of home and the number of bedrooms

Whether you are starting a family or an empty nester, you need to determine what size home you need. Westlake, Texas, offers many options, from six-bedroom spacious estates to more modest three-bedroom homes. Consider how much home you need to live your lifestyle. For instance, if you have a family or are planning on starting one, then you might like a contemporary and spacious five-bedroom home built with children in mind. If you desire something smaller and more private, you might like a four-bedroom home with many luxurious amenities tucked between clusters of trees. With a variety of home sizes, there are many options in Westlake, Texas, for you!

3. Amenities

Just like every home in Westlake, Texas, comes in varying sizes, they all offer different amenities. When buying a new home, you need to consider what amenities are most important to you. Westlake luxury homes provide various amenities, such as swimming pools, spas, home gyms, outdoor kitchens, fire pits, recreation rooms, and innovative home technology. In addition, if you choose a property with a homeowners association, you can expect neighborhood amenities, such as sports courts, golf courses, golf clubs, and walking trails. With many options available, you must curate a list of things you must have for your luxury property.

4. Work within the budget

When viewing Westlake homes for sale, it can often be easy to get swept up in all the bells and whistles of the property. There are many homes in Westlake, Texas, with varying price points. The median home price in Westlake, Texas, is $3,998,000, and many luxury homes are even listed for well above that figure. To simplify your home search from the start, consider working with your financial advisor, who can help determine how much home you can purchase and how you will pay for the property. If paying with cash is the best option, you can get a Proof of Funds letter. This can also help to speed up the real estate transaction, as sellers are more likely to assume it will not fall through. However, if you need to finance your property with a Jumbo Mortgage Loan, you must get preapproved for one. A preapproval will indicate how much the bank is willing to lend you to finance your luxury property. Ultimately, whether you pay with cash or finance your home, you can search for luxury homes within that price range. In addition, by not looking at homes that are outside your price range, you will be able to conduct a more efficient and targeted luxury home search.

5. Home inspections

Although it is not required by law to have a home inspection, it is often strongly recommended. Even though many sellers get a home inspection, and you can ask for the pre-inspection report, getting your prospective home inspected will still be helpful. In addition, if you plan on financing your property, then it is often required by mortgage lenders. A real estate agent can refer you to a home inspector who has experience working with luxury homes in Westlake, Texas. The inspector will examine the home, from the foundation and roof to the HVAC and electrical components. They will also examine the specialized amenities on the property, such as pools and spas, to ensure that every component is working optimally. By getting a home inspection, you will know whether or not the home satisfies all codes and is safe. Make sure you add home inspections to your list of non-negotiables so that your real estate investment is excellent!

6. Resale value

Buying Westlake real estate is an investment. That is why you need to consider the future. Sometimes new developments planned for the area can affect the property's value. Consider visiting the local City Hall to find out what new developments are planned in the Westlake, Texas, area. Generally, new construction, such as shops, restaurants, parks, and schools, can help increase the home's resale value. You can make a more informed decision on the property by considering whether your real estate investment could be expected to increase or stay the same.

Joe & Cara Keenan can help you buy Westlake, Texas, real estate

Considering buying a luxury property in Westlake, Texas? Then you need to consult real estate agents Joe & Cara Keenan, who can provide expert guidance on everything from localized neighborhood insights to matching homes with lifestyles. This outstanding husband-wife real estate team can help you find a home that aligns with all your must-haves and non-negotiables!

Work With Us

Cara & Joe are dedicated to helping you find your dream home and assisting with any selling needs you may have. Contact us today to start your home searching journey!

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